Eastman Kodak Company $KODK Stock Holdings Lowered by Prescott Group Capital Management L.L.C.

Key Points

• Prescott Group Capital Management cut its Eastman Kodak stake by 78.7% in the third quarter, selling 294,500 shares. It held 79,845 shares, worth about $763,000, at quarter-end.
• Other institutions made mixed moves: State Street, Bank of America, Dimensional Fund Advisors, and UBS increased holdings, while Bank of New York Mellon opened a new position. Institutional investors collectively owned 33.65% of Kodak.
• Kodak beat quarterly EPS estimates with $0.18 versus $0.16, but revenue of $276 million fell short of the $294 million forecast. MarketBeat reported a consensus analyst rating of “Reduce.”

Prescott Group Capital Management L.L.C. lessened its stake in Eastman Kodak Company (NYSE:KODK - Free Report) by 78.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,845 shares of the technology company's stock after selling 294,500 shares during the quarter. Prescott Group Capital Management L.L.C. owned about 0.08% of Eastman Kodak worth $763,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in Eastman Kodak by 16.2% in the 2nd quarter. State Street Corp now owns 2,345,933 shares of the technology company's stock valued at $21,700,000 after buying an additional 326,398 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Eastman Kodak in the 2nd quarter valued at approximately $1,941,000. Bank of America Corp DE lifted its holdings in shares of Eastman Kodak by 438.9% during the 1st quarter. Bank of America Corp DE now owns 331,883 shares of the technology company's stock worth $3,004,000 after acquiring an additional 270,297 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Eastman Kodak by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,177,801 shares of the technology company's stock worth $19,707,000 after acquiring an additional 113,398 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Eastman Kodak by 1,513.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,869 shares of the technology company's stock worth $628,000 after acquiring an additional 63,663 shares in the last quarter. Institutional investors own 33.65% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KODK shares. Zacks Research upgraded shares of Eastman Kodak to a "hold" rating in a research report on Thursday, September 17th. Weiss Ratings upgraded shares of Eastman Kodak from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Eastman Kodak from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce".

Eastman Kodak Stock Performance

NYSE:KODK opened at $8.64 on Wednesday. The stock's 50-day moving average is $9.32 and its 200-day moving average is $9.23. Eastman Kodak Company has a 1-year low of $5.78 and a 1-year high of $14.87. The company has a current ratio of 2.91, a quick ratio of 1.95 and a debt-to-equity ratio of 0.17. The stock has a market cap of $846.43 million, a P/E ratio of -6.22, a price-to-earnings-growth ratio of 0.61 and a beta of 1.64.

Eastman Kodak (NYSE:KODK - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. Eastman Kodak had a negative net margin of 8.28% and a negative return on equity of 14.47%. The business had revenue of $276.00 million during the quarter, compared to analyst estimates of $294.00 million. Equities research analysts anticipate that Eastman Kodak Company will post 0.39 earnings per share for the current year.

Eastman Kodak Company Profile

Eastman Kodak Company is a technology and manufacturing company based in Rochester, New York. It provides commercial printing, packaging, publishing and graphic communications solutions, including digital printing equipment, workflow software, consumables and related services. Kodak also develops advanced materials and chemical products used in specialized industrial and commercial applications.

The company serves customers in the commercial print, packaging, publishing, entertainment and manufacturing industries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.